Genghis,
Whilst I'm merely a humble tech I've deep reservations about the direction that the engineering industry/establishment is heading. With the loss of the traditional path into engineering, apprenticeship, day release, sandwich course. We are losing the broad base of experience that used to be gained by people who followed this route. Not just the feel for the processess and materials, but man managment skills and the mutual respect that's gained when you work with people. We are also losing the middle ground, people like myself who act as a bridge between the "Professionals" and the shop floor.
I've had the misfortune to get stuck under a gradate entry box ticker who has no idea about basic engineering, I had to teach him how to use a micrometer! he is now chartered with I mech E fortunatley as we work mostly in research he's not going to hurt too many people, also I think he's aiming towards a move to politics he certainly has the personality for it.
What concerns me about this is the emphasis seems to be on career progress and programme/project management rather than actual nuts and bolts. Being able to draw charts and make power point presentaions are handy skills but don't really help when your trying produce a finished product that actually works. We need organisation but we need people who can actually do the job. If the institutes continue as they seem to be then the papers will sadly become worthless.